Question

2 a) Derive total cost function from the
given marginal cost function and total
cost
fixed
C”(Q) = 3 x-4
when TFC=100​

Answer 1

Answer:

Marginal cost is the derivative of the cost function, so take the derivative and evaluate it at x = 100. Thus, the marginal cost at x = 100 is $15 — this is the approximate cost of producing the 101st widget.